The Epic American Credit and Bond Bubble Laboratory Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: Paul Kern	6/21/2007 11:16:37 AM
	Read Replies (1) of 110194

Merrill Sells Fraction Of Bear Stearns Assets, Covers Loan Last update: 6/21/2007 11:08:24 AM By Anusha Shrivastava Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Merrill Lynch & Co. (MER) sold only a fraction of the $850 million of Bear Stearns Cos.' (BSC) assets it had put on the auction block on Wednesday, a person familiar with the deal said. The bank sold $100 million worth of securities, mostly collateralized debt obligations, which the person said was enough to the cover the loan it extended to Bear's two troubled hedge funds. Merrill will not be selling any more bonds and will, instead, hold or securitize the rest, the person said. One hedge fund manager said that the bank had raised the money through the sale of just "two or three bonds." This was enough for them to cover their positions, another person familiar with the deal said. -By Anusha Shrivastava, Dow Jones Newswires; 201-938-2371; anusha.shrivastava@dowjones.com

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next